eClinical Solutions Market Report 2022: Growing Outsourcing of Clinical Trial Studies by Big Pharma and Biopharma Companies Driving Growth – ResearchAndMarkets.com | Nation/World

DUBLIN–(BUSINESS WIRE)–Sep 1, 2022–

The “eClinical Solutions Market Size, Share, and Trend Analysis Report by Product (eCOA, CTMS, EDC, and CDMS), By Delivery Mode (Web-Hosted, Licensed Enterprise, Cloud-Based ), by Development Phase, by End Use, by Region, and Industry Forecast, 2022-2030 » report has been added to ResearchAndMarkets.comoffer.

The global eClinical solutions market size is expected to reach USD 21.8 billion by 2030. The market is expected to grow at a CAGR of 13.6% from 2022 to 2030. Increasing R&D activities by biopharmaceutical and pharmaceutical companies, application of software solutions in clinical trials, and customer expansion is expected to fuel the market growth.

During the COVID-19 pandemic, clinical laboratories have experienced high demand for COVID-19 tests. eClinical solutions, such as clinical data management systems, have helped these labs seamlessly manage the huge daily influx of samples. Technological advancements such as electronic data capture and Wi-Fi connectivity are expected to drive the market in the coming years.

As the demand for clinical data tracking and analysis increases, so does the need for effective clinical solutions. The unmet needs to manage effective clinical development processes are poised to drive the market growth over the forecast period. Moreover, the digital transformation in the field of clinical trials and the preference for data-centric approaches are giving a tremendous boost to the market.

The demand for integrated clinical IT solutions is increasing due to the massive volume of data generated during clinical development processes. eClinical solutions provide a single source of information that helps optimize costs by eliminating redundant data entry and reducing on-site verification and verification of source data. Rising awareness of these benefits is expected to propel the market.

The growing adoption of eClinical workflows in trials offers enormous potential in clinical development processes. These solutions can facilitate decision-making at every stage of development. It also reduces costs and time between development phases by using consistent designs and identifying failing compounds.

Plus, it provides quick access to patient safety data and information, enabling quick decisions. Market players engage in new product development and strategic alliances including partnership agreements, promotional activities, and acquisitions to keep the market rivalry high. For example, in October 2020, Oracle entered into a collaboration with FHI Clinical Inc. to improve clinical trial efficiency and bring therapies to market faster.

Highlights of the eClinical Solutions Market Report

  • CTMS led the product segment in 2021 and accounted for approximately 21% revenue share due to product benefits such as end-to-end centralized management of clinical trial activities, elimination of reliance on process manuals, real-time status tracking, and maintenance of multiple databases, which cumulatively improve the overall efficiency of clinical trials
  • The cloud-based systems segment is expected to show an exponential CAGR of 15.1% during the forecast period thanks to built-in features such as flexibility, high accessibility, negligible processing costs and easy data backup . Real-time data is available through these systems, allowing users to make quick decisions and provide high-quality information for risk-based monitoring.
  • The CRO segment held the largest revenue share in the market in 2021. The segment is expected to grow at a remarkable CAGR of 13.9% during the forecast period owing to the increasing propensity of pharmaceutical companies to cut expenses global.
  • Key companies engage in various business strategies such as mergers and acquisitions and new product development to gain greater market share

Market dynamics

Market factors

  • Increasing outsourcing of clinical trial studies by large pharmaceutical and biopharmaceutical companies
  • Benefits of Eclinical solutions
  • Presence of a wide range of products in the pipeline

Market constraints

  • Scarcity of qualified research professionals
  • Lack of recognition

Main topics covered:

Chapter 1. Research Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. eClinical Solutions Market Variable Scope and Trends

Chapter 4. COVID-19 Impact Analysis

Chapter 5. eClinical Solutions Market: Competitive Analysis

Chapter 6. eClinical Solutions Market: Product Analysis

Chapter 7. eClinical Solutions Market: Delivery Mode Analysis

Chapter 8. eClinical Solutions Market: Development Phase Analysis

Chapter 9. eClinical Solutions Market: End-Use Analysis

Chapter 10. eClinical Solutions Market: Regional Market Analysis, By Product, 2017-2030 (USD Million)

Chapter 11. Business Profiles

Chapter 12. Recommendations/Conclusion

Companies cited

  • Oracle
  • PAREXEL International Corporation
  • Medidata Solution, Inc.
  • Bioclinical
  • DATATRAK International, Inc.
  • CRF Health
  • Clinical ERT
  • eClinicalWorks
  • IBM Watson Healthcare
  • OmniComm Systems, Inc. (Anju Software Inc.)
  • eClinical Solutions
  • Veeva Systems

For more information on this report, visit https://www.researchandmarkets.com/r/44uhov

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KEYWORD:

INDUSTRY KEYWORD: PHARMACEUTICAL HEALTH CLINICAL TRIALS

SOURCE: Research and Markets

Copyright BusinessWire 2022.

PUBLISHED: 01/09/2022 04:58 / DISK: 01/09/2022 04:58

http://www.businesswire.com/news/home/20220901005356/en

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